Tadawul to cancel pending orders ahead of move to new trading platform

10/09/2015 Argaam

Saudi Stock Exchange (Tadawul) has issued a reminder that it will be cancelling all outstanding and unexecuted orders following the end of Thursday’s session at 3:30 pm as part of a migration to its new trading platform.

 

The X-stream INET trading platform, powered by Nasdaq OMX, will go live on Sunday and will receive new orders starting at 10 am Riyadh time.

 

The system is said to be the world’s fastest multi-asset trading engine, as it can sustain a rate of 40,000 orders per second with latency under 40 microseconds. It will facilitate the trading of various product classes, including equities, Sukuk, and bonds, as well as exchange-traded funds (ETFs).

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